EI, Banco Desio Partner to Drive SME Innovation in Italy

22 Jan, 2025

The European Investment Bank (EIB) and Banco Desio have signed a 200 million euro agreement to provide financing for small and medium-sized enterprises (SMEs) and mid-caps in Italy. This partnership aims to drive innovation and support business growth, with a focus on fostering digitalization and technological advancements across the country. The initiative is expected to enable a total of 400 million euros in investments, significantly boosting Italy’s economic development.

The first tranche of 60 million euros has been signed in Milan by EIB Vice-President Gelsomina Vigliotti and Banco Desio CEO Alessandro Decio. This tranche forms part of a broader plan, with Banco Desio contributing an additional 60 million euro credit line. Combined, the available financing for businesses totals 120 million euros, offering favorable interest rates for projects that prioritize innovation, technology adoption, and digital transformation.

The agreement targets SMEs with fewer than 250 employees and mid-caps with up to 2,999 employees, ensuring a wide range of businesses benefit from this financial support. EIB Vice-President Gelsomina Vigliotti emphasized the critical role of SMEs in Italy’s economy, particularly in job creation and driving technological progress. She highlighted the significance of this initiative in enhancing Italy’s competitiveness in the global market.

Banco Desio CEO Alessandro Decio underscored the collaboration’s potential to strengthen businesses in various regions across Italy. He pointed out that the financing will enable companies to implement innovative projects, improve operational efficiency, and enhance their market position.

This strategic partnership between EIB and Banco Desio reinforces their commitment to fostering economic growth, empowering businesses, and promoting sustainable innovation in Italy. By addressing the financial needs of SMEs and mid-caps, the agreement marks a significant step toward strengthening the country’s economic resilience.

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